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The Remarkable AGI Predictions of Daniel Gross

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Watch on YouTube ai infrastructure investment semiconductor supply chains energy markets and nuclear power ai labor market disruption geopolitical risk and taiwan commodity markets wealth and wage inequality

Hosts John and Tyler examine Daniel Gross's AGI predictions from January 2024 to evaluate how accurately he forecasted technological and economic developments over the past two years. The episode traces Gross's prescient calls on infrastructure dominance, commodity prices, geopolitical risks, and labor market disruption, finding that many of his speculative questions have materialized in concrete ways across semiconductors, energy, real estate, and international competition.

Key takeaways
  • Infrastructure layer (chips, power, packaging) captured the majority of AI boom profits, with Nvidia adding $3.2 trillion in market cap while foundation model companies burned cash, validating the "picks and shovels" investment thesis.
  • Copper prices surged 76% from $3.75 to $6.61 per pound since early 2024 due to massive demand from AI server racks, with a single NVL72 requiring 5,000 copper cables stretching two miles when laid end-to-end.
  • San Francisco rebounded significantly as an AI hub, with office vacancy falling from 36.9% to 33.5% and the Bay Area capturing 78% of AI venture capital in H1 2025, contradicting predictions that tech would disperse to other cities.
  • AI API costs collapsed 50x in three years (from $20 to $0.40 per million tokens), falling faster than PC compute or dotcom bandwidth costs, but Jevons Paradox means total spending still increases as new use cases emerge and SaaS vendors impose 20-37% "AI taxes" on renewals.
  • High-skill jobs face greater automation risk than low-skill positions, with Indian IT outsourcers shrinking by 58,000 employees in 2024-2025 after adding 360,000 in prior years, while demand for AI engineers grew 143%.
  • Leading-edge semiconductor nodes remain critical—China's lagging-edge 14nm chips cannot match frontier training performance even with cheaper energy, as all major frontier models require 5nm or better technology from TSMC.
  • Taiwan geopolitical risk escalates with China separating "peaceful reunification" language, conducting 100+ aircraft exercises, and firing rockets into Taiwan's contiguous zone, with a blockade potentially triggering major semiconductor supply disruption.

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Mentioned (16)

danielgross.com
danielgross.com "Yes. Uh this is uh great great website. Uh it's uh what is it? danielgross.com/agi trades" ▶ 0:22
GPT-4
GPT-4 "I think we can all agree that GPT-4 completes many tasks at human level proficiency. It is imperf..." ▶ 1:22
GPT-5
GPT-5 "GPT5 is capable of basic agentic behavior, i.e. able to accept a task, work on it for a while, an..." ▶ 1:43
GPT-5.4
GPT-5.4 "And of course today OpenAI has released GPT 5.4 which does exactly this quite well. Yeah, the rev..." ▶ 1:51
Nvidia
Nvidia "Nvidia basically captures and did for a while more than 100% of the profits from the AI boom beca..." ▶ 3:25
Stratechery
Stratechery "And I remember listening to him on Stratechery talk to Ben Thompson alongside Natt Friedman and s..." ▶ 3:53
ChatGPT
ChatGPT "Yeah, based on ChatGPT, Nvidia seems sort of undervalued." ▶ 3:58
Microsoft
Microsoft "Microsoft from January of 2024 to today is only up 4%. The market punished the $80 billion in AI ..." ▶ 4:27
Azure
Azure "So Azure growth actually is accelerating. It's at 40% year-over-year." ▶ 5:28
OpenAI
OpenAI "OpenAI has a million square feet of offices. You add them all up, it's only four trillion." ▶ 4:37
Anthropic
Anthropic "Anthropic has a 25-story tower. 30 billion for anthropic." ▶ 10:05
AWS
AWS "This is not taking the data from AWS east to California." ▶ 7:34
Vistra
Vistra "Vistra returned 321%. It was the second best performing S&P 500 stock of 2024." ▶ 15:08
Palantir
Palantir "You know who beat them in 2024? Palantir." ▶ 15:19
TSMC
TSMC "TSMC's 2 nanometer chip production. It's what allows them to package HBM and the GPU all on one c..." ▶ 16:44
Maslow's hierarchy of needs "I tend to think that on Maslow's hierarchy of needs, you know, you need food, shelter, family, fr..." ▶ 29:53